After draining 12" of water (approx. 1/4), my CYA readings are still off the charts. (I bought a good test kit at my LPS) My calcium has dropped to ~220 or so. The rest of my readings look great (as does the water). I have turned-off the in-line chlorinator and using the BBB method.

FC - 3
TC - 3
PH - 7.4
TA - 120
Calcium - 220
CYA - >100
Water Temp - ~80F

I guess the answer is to drain some more and try again. What are the downsides to a high CYA? I realize I would need to maintain a higher level of FC. Will the pool use more chlorine as well? More frequent maintenance?

Thanks to everyone for their help! I am learning, slowly but surely.